Well, it can happen that he be re-instated but not likely. Depends on the details such as years of safe driving, vehicle condition, or other circumstances surrounding the incident. I have seen two other drivers in our center get their jobs back.
In fact, I was once fired over a roll-away and got my job back with a 10 days suspension without pay. However, the management team did not follow proper procedures when firing me, so I survived on a technicality. Seems that once you have been removed from service, they can't instruct you to do company work.
I hope no one was injured or no damage done.